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Market structureStock exchange segments for businesses of all sizes
European regulation allows for markets regulated by the EU and markets that are regulated by the exchanges themselves. On Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange) a listing in the Regulated Market can be in the General Standard or in the Prime Standard, a sub-segment of the Regulated Market with greater follow-up duties and thus higher transparency requirements. In the Open Market, which the exchange itself regulates, company securities can be listed on the Scale segment or on the Quotation Board.
The right choice for issuers who, in particular, want to appeal to international investors. It sets the highest transparency requirements of all segments at the Frankfurt Stock Exchange and, indeed, in all of Europe.
Primarily intended for medium-sized and large companies who seek to address national investors and want to use a cost-effective listing. In General Standard, the mandatory stipulations for the Regulated Market apply.
With its prerequisites for inclusion tailored to the needs of small and medium-sized enterprises (SME), Scale facilitates the raising of capital and provides access to investors, both domestic and international.
In short, the premium segment for raising debt capital, offering large members of the “Mittelstand” and international corporations an avenue for raising debt capital through the exchange. Geared to recognised market leaders who seek to sharpen their international competitive edge and enhance their reputation by floating bonds.
Our segment for SMEs offers an efficient opportunity to raise debt capital through the exchange. The listing of corporate bonds creates strategic room for growth and innovation and increases a company’s public profile significantly.
The Basic Board is the basic segment below Scale. It allows issuers of the former Entry Standard that do not fulfil the inclusion requirements of Scale to remain listed at the Frankfurt Stock Exchange.
Access to the Quotation Board is possible for securities that are neither admitted to the Regulated Market of the Frankfurt Stock Exchange nor included in trading in the same Regulated Market. In addition to bonds and funds, only shares that are already admitted to another exchange trading venue recognised by Deutsche Börse AG inside or outside Germany are included.
The listing segment for shares issued by public limited real estate companies with special tax status (REITs). The REITs segment offers companies increased visibility and investor attention.
